‘Electricity problems raise the risk that
the growth we saw in the third-quarter will be short-lived’
Bids will bring 3 750 megawatts of alternative energy on to the grid within the next three years at a total cost of R120-billion.
South Africa’s economic growth rate slowed to 2,1% in the first quarter of 2008 on a seasonally adjusted and annualised basis, official data showed on Tuesday, citing a sharp drop in mining due to a power crisis. Statistics South Africa said Q1 GDP slowed from 5,3% in the fourth quarter of 2007.
South Africa’s producer price index (PPI) rose by 11,8% year-on-year in March from 11,2% in February, Statistics South Africa data on Thursday showed. Dawie Roodt, economist at Efficient Group, commented: "I am afraid all these price increases from producers will start filtering to consumers."
South Africa’s producer price index (PPI) rose by 10,3% year-on-year (y/y) in July from a 10,4% year-on-year increase in June, Statistics South Africa (Stats SA) data on Thursday showed. The PPI rose 1,6% on a monthly basis after June’s monthly increase of 2,1%.
The inflation rate targeted by South Africa’s central bank quickened to 6,5% year-on-year in July, coming in above market expectations due to higher food prices. Statistics South Africa said on Wednesday that CPIX (consumer inflation less mortgage costs) accelerated from 6,4% in June, beating the consensus forecast of a 6,1% rate.